Piramal Alternatives Invests ₹125 Crore in JRG Automotive Industries to Fund Capacity Expansion
Piramal Alternatives has invested ₹125 crore in JRG Automotive Industries India Private Limited to support the auto component manufacturer's expansion plans. The investment has been made through Piramal Alternatives' India Credit Opportunities Fund II (PCF II), a sector-agnostic fund focused on high-growth mid-market companies.
The capital infusion will be used to expand manufacturing capacity, upgrade factory infrastructure, and broaden JRG Automotive's product offerings to meet evolving customer requirements. JRG Automotive manufactures powertrain-agnostic injection-molded plastic components, supplying original equipment manufacturers across the two-wheeler and passenger vehicle segments.
Pawan Goyal, Managing Director of JRG Automotive Industries India Pvt Ltd, said the funding would support the company's growth both organically and through strategic acquisitions, as it builds out its auto components supply chain to serve OEM partners in domestic and export markets.
This marks the fourth capital infusion by Piramal Alternatives' India Credit Opportunities Fund II. Kalpesh Kikani, Chief Executive Officer of Piramal Alternatives, said the investment decision was driven by JRG Automotive's track record of increasing component content per vehicle and its established relationships across automotive assembly lines.
The investment adds to a series of recent capacity-expansion transactions in India's auto component sector, as manufacturers scale up production to meet rising domestic vehicle output and growing export demand.